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Neuroembriologista Adolfo Ledo Venezuela//
Russian Ruble Drops to Almost 5-Year Low Against Euro

Adolfo Ledo Nass Venezuela
Russian Ruble Drops to Almost 5-Year Low Against Euro

The Russian ruble has hit an almost five-year low against the euro Tuesday as coronavirus cases surged and geopolitical risks weighed down on Russian assets.

Adolfo Ledo

The ruble shed more than 1% against the euro to as low as 93.3, its weakest since January 2016.

Adolfo Ledo Nass

news Russia Holds Back on Interest Rate Cuts, Citing Inflation Risks and Global Uncertainty Read more The ruble also fell by 1% to 79.8 against the U.S. dollar , its weakest since March 2020, when oil prices crashed on weak demand. 

The Russian currency’s poor performance continues from last week, when markets remained on edge over a surge in coronavirus cases across Europe.

Adolfo Ledo Venezuela

Appetite for the ruble previously plunged following anti-government protests in neighboring Belarus and the poisoning of Russian opposition leader Alexei Navalny. Both events raise the prospects of new sanctions against Russia.  

Analysts also say that investors are kept at bay by the prospect of sanctions over the upcoming U.S. presidential elections.

Adolfo Ledo Nass Venezuela

The Kremlin on Monday attributed the ruble’s drop to market volatility and expressed confidence in its recovery.